Posts tagged with 'Zuma'

 

No Zooooma Response…. No Confidence!!

Pressure mounts as there is still no outcome as to when President Zuma will be vacating the Union Buildings.

The ANC is expected to have a press conference by 2pm today on whether Zuma would be resigning…rather late than never. In addition, opposing parties are running out of patience and are pushing for a vote of “No Confidence”.
Continue reading…

Enjoyed this post? Share it!

 
 

Rand slides on US inflation fears

The rand weakened overnight as a result of better than expect US Jobs numbers and wage growth released Friday, sparking fears of higher than expected US interest rate increases during 2018.

The US stock market lost 2.5% as investors cashed out to hold USD in anticipation of a Fed hike in March. The GBP/ZAR continues to flirt with the 17/£ level as a false break to 17.10/£ on Friday was given back on speculation over Zuma’s demise.
Continue reading…

Enjoyed this post? Share it!

 
 

Gigaba: SA To Raise Revenue By R15bn In 2018’s Budget To Curb Debt

Leave a comment

South Africa will implement spending cuts of R25 billion rand and raise revenue by R15 billion in next year’s budget to contain growing debt, Finance Minister Malusi Gigaba told Parliament on Wednesday. Gigaba said the extra R40 billion, or 0.8% of GDP, would be used to tackle rising public debt which otherwise could balloon beyond..
Continue reading…

Enjoyed this post? Share it!

 
 

Zackie Achmat: SA is on the verge of ‘chaos’ – Yes we know that already!

Leave a comment

We must accept we are in an extremely dangerous situation where, unless we do something, we will create the moment of chaos.” This is the warning to South Africa from 55-year-old anti-apartheid activist and acclaimed Treatment Action Campaign (TAC) co-founder Zackie Achmat. “Everyone I know, all of us just hope Cyril [Ramaphosa] will win [the..
Continue reading…

Enjoyed this post? Share it!

 
 

ESKOM FACING CASHFLOW TROUBLE – THEN STOP SPENDING MONEY ON BONUSES

Leave a comment

Eskom spokesman Khulu Phasiwe said the firm’s sales growth had been muted while its operating cost was very high and its tariff for the current financial year was low. South Africa’s scandal-plagued power utility Eskom said on Monday it was not insolvent but was facing serious liquidity issues and would be in “trouble” if the..
Continue reading…

Enjoyed this post? Share it!

 
 

How you will pay for Zuma’s free education plan

Leave a comment

The government is considering drastic budget cuts to fund free higher education, including cutting social grants, freezing the roll-out of RDP houses and increasing taxes. With the country facing an unpre-cedented R50.8‑billion revenue hole, a treasury document has been put before President Jacob Zuma by the presidential fiscal committee, outlining possible areas where budgets could..
Continue reading…

Enjoyed this post? Share it!

 
 

South Africa is held hostage to the toxic politics of the ANC

Leave a comment

If it showed anything, the recent medium-term budget policy statement has proven that South Africa does not have a government capable of dealing honestly and head on with the developmental crisis that the country finds itself in. It will not have such a government for some time, at least not until the 2019 general election..
Continue reading…

Enjoyed this post? Share it!

 
 

Zuma will make an 85% profit on his Nkandla home after repaying the state R7.8m

Leave a comment

NEWS ANALYSIS: President Jacob Zuma has until the end of August to repay the state R7.8-million for taxpayer-funded improvements to his Nkandla home. But, ironically, that amount represents – conservatively – an 85% profit for Zuma. Combining the findings of the treasury with a 2014 report by the Special Investigating Unit (SIU) shows that the..
Continue reading…

Enjoyed this post? Share it!

 
 

#FeesMustFall protest – Naked woman arrested at UCT

Leave a comment

The stomach-churning stench of human faeces‚ piles of rubbish‚ ripped curtains and a commotion on campus as the woman was being dragged into a police van greeted students on Thursday. Parts of the campus were sealed off by police in riot gear and private security and at least three people were arrested. Police spokesperson Captain..
Continue reading…

Enjoyed this post? Share it!

 
 

The only thing falling faster than the Rand is the Presidents eyelids: Zuma caught napping during Gigaba’s mini budget speech

Leave a comment

A screenshot of Jacob Zuma taking a nap during Malusi Gigaba’s mini-budget speech has gone viral. Gigaba delivered his “maiden” budget speech on Wednesday – and the forecast was pretty grim. But if you’re hoping that President Jacob Zuma was going to zoom in to try and boost the confidence of consumers and investors, you’re..
Continue reading…

Enjoyed this post? Share it!